Barclays and HSBC to cut fixed-rate mortgage deals

Other lenders likely to follow suit as analysts say 0.25 percentage point cut could fuel ‘summer of savings’ for borrowers

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HSBC and Barclays are cutting rates on their fixed mortgage deals in what some brokers claim could be the start of a “summer of savings” for homebuyers and those looking to remortgage.

Barclays has reduced rates by more than 0.25 percentage points in some cases from Tuesday, and its cuts led to a quick response from HSBC, which said it would be cutting rates across its home loans range with effect from Wednesday.

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